The 2026 China (Shandong)-Russia Local Economic and Trade Cooperation Conference was held on Monday in Harbin, Heilongjiang province, bringing together nearly 200 enterprises from both sides for matchmaking activities aimed at facilitating precise and in-depth cooperation.

A highlight was the signing of a memorandum of understanding on economic and trade cooperation between the Department of Commerce of Shandong Province and Russia's Khabarovskiy Kray. The memorandum marks a new phase of institutionalized partnership between Shandong and Russian regions.

Based on the procurement needs and product lists from Russian enterprises, the provincial commerce department organized one-on-one sessions with Shandong companies from sectors such as manufacturing, import-export trade, comprehensive foreign trade services, logistics, and tourism.

Through predetermined demand matching and on-site talks, the two sides reached preliminary cooperation intentions in multiple fields, effectively boosting cooperation, according to the commerce department.

The total import and export volume between Shandong and Russia reached 244.91 billion yuan (about $36 billion) in 2025, an increase of 4.42 percent year-on-year, according to data supplied by the department.